previously known as Nam Viet Commercial Joint Stock Bank (Navibank) and had taken Flexcube in 2009 but had given up on the project. NCB is one of the smaller players in the country’s banking market and has been in restructuring modesince2012, imposed on it by the regulators. It recruited a new leadership team and aimed to be included in Vietnam’s top 20 FIs in 2015, and top 15 in 2016. According to NCB’s financial results for 2013, its profit after tax was VND24 billion ($1.1 million), a tenfold increase compared to the previous year. Its total assets stand at VND29.22 trillion ($1.4 billion).
Prior to this, in 2009, Oracle FSS had beaten Temenos two-
one, the latter gaining Handico Finance Joint Stock Company (and Oracle winning the a aforementioned Navibank). The previous year, Oracle FSS had gained three deals to Temenos’ two. In 2010, Thomson Reuters had won deals for K+TP (i.e. Kondor+ back office) at Asia Commercial Bank (ACB)and Maritime Bank (ahead of the Kondor+ business becoming part of Misys). The only two other deals in the year had been for Nucleus with its retail lending system.
Aforementioned domestic supplier, FPT International, has a
number of customers in the country for its Smartbank core banking system and also offers a range of services and other applications. It has partnered with Oracle FSS and worked on the implementation of Flexcube at Saigon Commercial Bank but has also been involved in other projects and with other vendors.
The peak for new deals of latewas2011, with nine selections.
Three were for Nucleus’ lending system (Mekong Development Bank, Mirae Asset Finance and VP Bank). There were two deals for Flexcube, one of which was at Ficombank. This has since merged with a couple of other entities to create Saigon Commercial Bank, and in January2013, it went live on a consolidated platform, Flexcube, replacing a number of core systems, with T24 among them. Flexcube won a new deal in 2015 with Lien Viet Post Bank The international suppliers have been active in the former Soviet states but a fair number of the resultant projects have proved difficult, to say the least. As a result, initial footholds have often not been built on by these suppliers. A few of the Russian suppliers are also active, so too a couple of other regional players.
2016 was a busy year again with six deals signed including
four core banking deals. Shinhan Vietnam Bank Ltd selected Prospero, the flagship product of Sage SA to upgrade its wealth management system.
Former Soviet States Tememos is fairly prominent here. In 2010 it won the
selection at Express bank, following a number of earlier deals, including Amrahbank. Temenos added to for Russian supplier,
162
Inversia. The same supplier won a deal in another disputed territory, South Ossetia, with Blacksea Development Bank, in 2012.
As mentioned above, Ziraat Tbilisi, local subsidiary of
Turkey’s Ziraat Bank, took the CBS core system from regional vendor, Colvir, as part of a multisite roll-out. The project its Azeri user base again in 2011, signing Access Bank. Latvian supplier,Forbis,alsopickedupa2011win in Azerbaijan,
withXalqBank.This14-branchbank,the third largest by assets in the country, chose Forbis ahead of international and Russian vendors early in the year, to replace a legacy Russian system.
In 2012 the only bank to opt for a core system replacement,
Bank Technique, went with Oracle FSS’s Flexcube, which had an earlier site, Bank Respublika, from2008. Bank Technique had previously tried implementingT24 but the project was not successful.
Azerbaijan In 2013, Azerbaijan-basedAzerTurkBank became the latest
subsidiary of Turkey’s Ziraat Bank to move to the core system of regional supplier, Colvir. Ziraat Bank had signed an agreement in 2011 to standardise its operations across Kazakhstan, Turkmenistan, Uzbekistan, Azerbaijan and Georgia. The roll- out was in progress during the year at Kazakhstan Ziraat International Bank, with Turkmen- Turkish Bank live since2012. Azer Turk Bank was set to launch in 2014, the same year that projects in Uzbekistan and Kyrgyzstan were expected to start, with Ziraat Tbilisi (Georgia) to follow in 2015.
There was also a deal for Calypso in 2013, at Pasha Bank,
which signed in May for full front-to-back office cross-asset trading functionality. It was intended to be a relatively short project, with a first phase scheduled for cut over in December 2013.
Turkish supplier, Intertech, gained a first deal in Azerbaijan
in 2014, at ASB Bank. The ten-branch Azerbaijan Industry Bank is focused on corporate and private banking. Late in 2014, Turan Bank, a microfinance entity in Azerbaijan, was understood to be close to signing with Colvir for a new core system.
There was only 1 deal in 2015, which was awarded to Oracle
FSS for Flexcube. There has been a win each for the mainstream core system vendors, Oracle FSS and Temenos, but both ended in failure. Oracle FSS’s Flexcube was selected at TBC Bank in 2008, while Temenos’ T24 was takenin2009 by Bank of Georgia. Neither project was a success. TBC Bank has beenin selection mode since then but with no known outcome by the end of 2014.
In 2010, National Bank of Georgia (the central bank) looked closer to home, implementing a new core system fromAlta
Market Dynamics Report 2017 |
www.ibsintelligence.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200 |
Page 201 |
Page 202 |
Page 203 |
Page 204 |
Page 205 |
Page 206 |
Page 207 |
Page 208 |
Page 209 |
Page 210 |
Page 211 |
Page 212 |
Page 213 |
Page 214 |
Page 215 |
Page 216 |
Page 217 |
Page 218 |
Page 219 |
Page 220 |
Page 221 |
Page 222 |
Page 223 |
Page 224
